Gate News message, April 22 — HCLTech reported fourth-quarter revenue of 339.8 billion rupees (US$3.63 billion) for the January–March period, falling short of analyst expectations of 342.4 billion rupees (US$3.67 billion). The 12.3% year-over-year growth was driven by clients cutting back on technology spending amid geopolitical uncertainty.
The company forecasted fiscal 2027 growth of 1% to 4%, below market expectations. New bookings, a key indicator of future revenue, dropped significantly to US$1.94 billion from US$3 billion in the prior quarter.
One bright spot emerged in HCLTech’s advanced AI services, which saw revenue surge fourfold to US$620 million from US$146 million in the previous quarter. The results reflect a broader slowdown across Indian IT services—Wipro also missed estimates while Tata Consultancy Services posted a rare annual revenue decline in dollar terms. Enterprise budgets are increasingly shifting from discretionary digital projects to cost-control initiatives, with specific weakness in telecom (down 8.6%) and Europe (down 2.9%), pushing IT vendors toward narrower, higher-margin work such as AI services.
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